CM Jagan on AP Increasing Debts
The summit is similar to a community outreach campaign; we want to make it clear that we mean business. Top industrialists are coming to the summit for the first time and investing in the state. This trust is a result of our government's and the leadership's assurances that we are there to assist them in generating wealth and jobs.
We assumed control of a Rs 2,71,000 crore debt load that has grown 139% since 2014 at a CAGR of 19.05%. We have taken on less debt over the past four years because it has only increased by 68% at a CAGR of 13.5%. It is currently valued at Rs 4.42 lakh crore. We are a state that practises fiscal responsibility, thus any debt we have is below the suggested FRBM level.